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Elevated energy prices are once again putting the spotlight on oil and gas stocks, but income investors don't have to rely solely on upstream producers to benefit from the favorable backdrop.

In fact, several energy master limited partnerships (MLPs) are offering substantial cash distributions while benefiting from fuel distribution, midstream infrastructure, and improving operating trends.

Notably, MLPs are structured as pass-through entities that typically avoid corporate-level federal income taxes and return a significant portion of their available cash to unitholders through distributions, helping explain their lofty yields and high payout ratios.

Three names that stand out at the moment are CrossAmerica Partners (CAPL - Free Report) ), Delek Logistics Partners (DKL - Free Report) ), and Global Partners (GLP - Free Report) ), which currently offer annual distribution yields ranging from roughly 6% to 9%.

CrossAmerica Partners – CAPLZacks Rank #1 (Strong Buy)Stock Price: $22CrossAmerica Partners is a wholesale fuel distributor, convenience-store operator, and owner of real estate used in the retail distribution of motor fuels.

More importantly for income investors, CrossAmerica pays a quarterly distribution of $0.53 per unit, or $2.12 annually for a current yield of 9%.

The hefty payout also looks better supported following a strong second quarter. CrossAmerica's Q2 adjusted EBITDA jumped 40% year over year to $51.8 million, while distributable cash flow (DCF) surged 50% to $33.6 million.

Furthermore, CrossAmerica's distribution coverage ratio improved to 1.68X from 1.12X in the prior-year quarter, comfortably above the 1.0X level needed to fully cover its payout and providing a healthy cash-flow cushion. Meanwhile, leverage declined to 3.57X, a relatively manageable level for an energy MLP.

Adding to the appeal is that CrossAmerica recently extended the maturity of its credit facility to 2031.

Image Source: Zacks Investment Research

Delek Logistics Partners – DKLZacks Rank #1 (Strong Buy)Stock Price: $55Delek Logistics operates pipelines, terminals, storage, crude and natural-gas gathering systems, and water infrastructure primarily around the lucrative Permian and Delaware basins.

DKL's quarterly distribution was recently raised to $1.14 per unit, equating to $4.56 annually and a yield over 8%. More impressively, this marked Delek Logistics' 54th consecutive quarterly distribution increase.

Supporting that payout, Q2 adjusted EBITDA rose to $143.5 million from $127.4 million a year ago, while adjusted DCF increased 11% to $80.5 million.

Distribution coverage improved to 1.33X from 1.22X in the prior-year period. Management also reiterated 2026 adjusted EBITDA guidance of $520-$560 million after posting record adjusted EBITDA of $535.6 million last year. 

Image Source: Zacks Investment Research

Global Partners – GLPZacks Rank #2 (Buy)Stock Price: $52Rounding out the list is Global Partners, which operates an extensive fuel distribution, storage, wholesale, and convenience-store platform.

Global Partners most recently reported Q2 net income of $71 million, nearly tripling from $25.2 million a year earlier. Adjusted EBITDA surged 51% to $148.2 million, while adjusted DCF climbed to $92.5 million from $52.3 million.

GLP also raised its quarterly distribution to $0.78 per unit, or $3.12 annually, giving shares a forward yield of roughly 6% at recent prices.

Image Source: Zacks Investment Research

Bottom LineHigh yields alone don't make a stock attractive, but CrossAmerica Partners, Delek Logistics Partners, and Global Partners pair lofty distributions with improving underlying cash generation.

Even better, rising EPS revisions have led to their favorable Zacks Rankings, with each stock being reasonably valued at well under 20X forward earnings.

With all three generating considerably stronger distributable cash flow in their latest quarters, these high-yield energy stocks remain worthy of consideration for income-focused investors.

Mark Wayne Hobbs, EVP of Delek Logistics Partners (DKL +0.02%), purchased 4,000 shares of the company on Aug, 13, 2026, as disclosed in a recent SEC Form 4 filing.

Transaction summaryMetricValueTransaction value$200,000Shares purchased4,000Post-transaction shares (directly held)24,125Post-transaction value$1.2 millionTransaction value based on SEC Form 4 weighted average purchase price ($50.00); post-transaction value based on Aug. 13, 2026, market close ($52.30).

Key questionsWhat is the current scale of the executive's total equity interest?
After this acquisition, Hobbs holds 24,125 shares directly. How does the purchase price compare to the company's current market valuation?
The executive acquired shares at $50 per share, approximately 7% below the $54.01 market price as of the Aug. 14, 2026, market close.What has been the recent return profile of the security?
As of this writing, the stock has generated a 25% total return over the past 12 months.Are there any indirect holdings or derivative structures involved in this position?
The filing indicates the entire position is held directly, and no indirect holdings through trusts or other entities were reported.Company OverviewMetricValueShare Price (as of market close 2026-08-14)$54.01Market Capitalization$3.1 billionRevenue (TTM)$1.2 billionNet Income (TTM)$154.1 millionCompany SnapshotDelek Logistics Partners operates a diversified portfolio of logistics and marketing assets for crude oil, intermediate, and refined petroleum products across the United States, generating revenue through its Pipelines and Transportation, Wholesale Marketing and Terminalling, and Pipeline Joint Venture Investment segments.The company generates cash flows through the operation and management of midstream infrastructure assets, including an extensive network of pipelines, trucking fleets, and terminal facilities that facilitate the movement and storage of petroleum products.The company serves refiners, producers, and petroleum product distributors throughout the United States, positioning itself as a critical infrastructure provider within the energy supply chain.Delek Logistics Partners is a substantial midstream energy infrastructure operator with $1.2 billion in TTM revenue and a market capitalization of $3.1 billion. The company's integrated asset portfolio across pipelines, transportation, and terminalling operations provides diversified revenue streams and positions it as a key logistics provider within the petroleum supply chain. The partnership structure and focus on essential midstream infrastructure provide a foundation for stable, recurring cash flows in the energy sector.

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What this transaction means for investorsOn Aug. 14, Delek announced that it had closed its underwritten public offering of 4.6 million shares, with gross proceeds of $220.8 million. Those proceeds are expected to be used to repay outstanding loans and for general partnership purposes. When a company raises money by selling additional shares, shareholders tend to worry about the short-term dilutive impact of the additional stock. That said, the purchase of 4,000 shares at $50 per share by Hobbs indicates a long-term belief in the company. That's especially notable, considering that Hobbs only had 20,000 shares before the transaction.

Over the last 12 months, the Delek Logistics Partners stock price has performed well, climbing nearly 26%. In comparison, the S&P 500 has climbed nearly 19% during that time. Over the next 12 months, however, return expectations look more muted, according to analysts. According to the analysts who cover Delek, tracked by CNN, 17% rate Delek as a buy, 67% as a hold, and 17% as a sell. Of those analysts, the median one-year price target is $55.50, which would represent only a 2.2% return from Delek Logistics' current trading level. The highest price target from those analysts is $61, while the lowest is $36.

Jack Delaney has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

On the dividend front, the energy sector certainly isn't suffering from the summertime blues, as a plethora of pipeline stocks have delivered higher payouts in recent weeks.

Count Delek Logistics Partners (DKL +3.27%), which operates in some of the most coveted domestic shale regions, is among the recent dividend boosters. On July 22, this midcap midstream company upped its quarterly distribution by half a cent to $1.135 a share.

That doesn't sound like much, but it's worth noting that the July increase marked the third time this year Delek Logistics raised its dividend and the 54th consecutive quarter in which the pipeline stock has done so.

Delek Logistics stock pulled back, but its dividend story is intact. Image source: Getty Images.

Slight quarterly payout boosts are seen elsewhere in the midstream segment, and smart investors enjoy the like-clockwork dependability of those increases because they know that, over time, all those small increases add up to something substantial. That's certainly the case with Delek Logistics, whose annual dividend in dollar terms is a stout $4.54 per share. To be sure, that's tempting, but there are some other factors to consider.

Let the dust settle Accounting for the pipeline operator's 2026 dividend increase cadence, it's a relatively safe bet that another hike is coming in October. That's over the near term, but over the really, really near-term, investors who currently aren't engaged with this energy stock may want to let the smoke clear.

The smoke arrived on Thursday, Aug. 13, when Delek Logistics announced a 4 million-share offering at $50 a share. Even when excluding the additional 600,000 shares that underwriters can purchase for up to a month, the company is diluting investors by $200 million. That's a significant percentage of its market capitalization, $2.8 billion.

The other issue is the $50 sale price, which is well below the energy stock's Aug. 12 closing price of $60. That explains why this midstream name slumped nearly 13% on Aug. 13. Of course, when a stock price declines, its dividend yield rises, so Delek Logistics now yields an enticing 7.7%.

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Keeping it real, dilutive share offerings are not picnics for investors, but shareholders looking for green shoots in the Delek Logistics sale may take heart that management capitalized on an elevated share price and that some of the proceeds will be used to retire debt at an interest rate of 6.05%.

A positive breakup Obviously, the share sale is a near-term headwind for this energy stock, but it deserves some credit because it's up 17.2% year to date. Gains are gains, but in this case, Delek Logistics' upside is important because it may indicate that market participants are buying into the notion that a "separation" from Delek US (DK -4.14%) is progressing.

In some circles, that parent/subsidiary relationship is viewed as an overhang on both stocks, but the "breakup" is progressing. Four years ago, Delek US owned 79% of the logistics business. Today, that percentage is closer to 63%.

Following its second-quarter earnings release, Delek reiterated that it expects 80% of 2026 earnings before interest, taxes, depreciation, and amortization (EBITDA) to come from third parties, also known as companies that aren't Delek US. So the logistics company is making some positive moves. Just wait for cooler heads to prevail after the share sale before rushing into this stock.

For those looking to find strong Oils-Energy stocks, it is prudent to search for companies in the group that are outperforming their peers. Delek Logistics Partners, L.P. (DKL - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.

Delek Logistics Partners, L.P. is one of 252 companies in the Oils-Energy group. The Oils-Energy group currently sits at #11 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Delek Logistics Partners, L.P. is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past three months, the Zacks Consensus Estimate for DKL's full-year earnings has moved 2.1% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Our latest available data shows that DKL has returned about 34.5% since the start of the calendar year. In comparison, Oils-Energy companies have returned an average of 29.1%. This means that Delek Logistics Partners, L.P. is performing better than its sector in terms of year-to-date returns.

Another Oils-Energy stock, which has outperformed the sector so far this year, is EnQuest (ENQUF - Free Report) . The stock has returned 146.4% year-to-date.

In EnQuest's case, the consensus EPS estimate for the current year increased 175% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Breaking things down more, Delek Logistics Partners, L.P. is a member of the Oil and Gas - Production Pipeline - MLB industry, which includes 7 individual companies and currently sits at #60 in the Zacks Industry Rank. This group has gained an average of 23.7% so far this year, so DKL is performing better in this area.

On the other hand, EnQuest belongs to the Oil and Gas - Exploration and Production - International industry. This 9-stock industry is currently ranked #168. The industry has moved +57.8% year to date.

Investors with an interest in Oils-Energy stocks should continue to track Delek Logistics Partners, L.P. and EnQuest. These stocks will be looking to continue their solid performance.

BRENTWOOD, Tenn.--(BUSINESS WIRE)--Delek Logistics Partners, LP (NYSE: DKL) (“Delek Logistics”) announced today that it has commenced an underwritten public offering of $175 million of common units representing limited partner interests in Delek Logistics pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission (the “SEC”). A preliminary prospectus supplement relating to the offering will also be filed with the SEC. Delek Logistics intends to grant the underwriters a 30-day option to purchase up to an additional $26.25 million of common units. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Delek Logistics intends to use the net proceeds from the offering (including any net proceeds from the underwriters’ exercise of their option to purchase additional common units) to repay outstanding borrowings under its revolving credit agreement and for general partnership purposes.

Truist Securities, Inc., Mizuho, and Raymond James & Associates, Inc. are acting as joint book-running managers for the offering. A copy of the preliminary prospectus supplement and accompanying base prospectus relating to this offering may be obtained from any of the underwriters, including Truist Securities, Inc. at 740 Battery Ave SE, 3rd Floor, Atlanta, Georgia 30339, Attention: Equity Capital Markets or by email at [email protected]; Mizuho at 1271 Avenue of the Americas, 3rd Floor, New York, NY 10020, Attention: Equity Capital Markets or by email at [email protected]; and Raymond James & Associates, Inc. at 880 Carillon Parkway, St. Petersburg, Florida 33716, Attention: Equity Syndicate or by email at [email protected]. You may also obtain these documents for free when they are available by visiting the SEC’s website at www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering may be made only by means of a prospectus and related prospectus supplement meeting the requirements of Section 10 of the Securities Act of 1933, as amended (the “Securities Act”).

About Delek Logistics Partners, LP

Delek Logistics is a midstream energy master limited partnership headquartered in Brentwood, Tennessee. Through its owned assets and joint ventures located primarily in and around the Permian Basin, the Delaware Basin and other select areas in the Gulf Coast region, Delek Logistics provides gathering, pipeline and other transportation services primarily for crude oil and natural gas customers, storage, wholesale marketing and terminalling services primarily for intermediate and refined product customers, and water disposal and recycling services.

Delek Holdings (NYSE: DK) owns the general partner interest as well as a majority limited partner interest in Delek Logistics and is also a significant customer.

Forward Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, including statements regarding the closing of the offering and the anticipated use of the net proceeds therefrom. These statements may contain words such as “possible,” “believe,” “should,” “could,” “would,” “predict,” “plan,” “estimate,” “intend,” “may,” “anticipate,” “will,” “if,” “expect” or similar expressions, as well as statements in the future tense, are made as of the date they were first issued and are based on current expectations, estimates, forecasts and projections as well as the beliefs and assumptions of management. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond Delek Logistics’ control. Delek Logistics’ actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including, but not limited to, market risks and uncertainties, including those which might affect the offering. These and other potential risks and uncertainties that could cause actual results to differ from the results predicted are more fully detailed in Delek Logistics’ filings and reports with the SEC, including the Annual Report on Form 10-K for the year ended December 31, 2025, the Quarterly Reports on Form 10-Q for the quarterly periods ended March 31, 2026 and June 30, 2026 and other reports and filings with the SEC.

Delek Logistics Partners NYSE: DKL reported second-quarter adjusted EBITDA of approximately $144 million, a quarterly record and up from $127 million in the same period of 2025, as higher utilization at its Libby Gas Complex and stronger Permian crude margins supported results.

The partnership reaffirmed its full-year 2026 adjusted EBITDA guidance of $520 million to $560 million. President and Chairman Avigal Soreq said the results reflected the company’s position as a provider of crude, gas and water services in the Permian Basin, while management said it expects roughly 80% of run-rate EBITDA in 2026, on a pro forma basis, to come from third-party customers.

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“All three of our segments are doing well,” Soreq said, citing progress in gas operations, record performance in Delaware crude gathering and continued strength in the water business.

Gas volumes rise as sour-gas project advances Management said it is nearing completion of an integrated sour-gas processing, treating and acid-gas injection solution at the Libby Gas Complex in the Delaware Basin. The project includes expanded processing capacity, the company’s first AGI well, sour-gas gathering infrastructure and compressor stations.

Executive Vice President Mark Hobbs said the project is intended to address increasing sour-gas production in the region as some customer production shifts from sweet gas to sour gas. He said the completed system is expected to support producers’ future development plans and drive a “step change” in gas volumes later this year.

Gas volumes exceeded 80 million cubic feet per day during the second quarter, compared with approximately 64 million cubic feet per day in the first quarter, according to Hobbs. Both Libby One and Libby Two were operating well, he said, and the company expects utilization to increase as the sour-gas solution comes online.

Management also said it continues to evaluate future investments that could expand the Libby Complex in response to anticipated customer demand for additional sour-gas processing capacity.

Crude and water operations post higher volumes Delek Logistics’ Delaware crude-gathering operation delivered record volumes during the quarter. Hobbs said Delaware crude volumes exceeded 157,000 barrels per day, up from roughly 129,000 barrels per day in the first quarter.

Produced-water volumes across the Midland and Delaware basins increased to more than 687,000 barrels per day from 557,000 barrels per day in the prior quarter. The company attributed water-business performance in part to the integration of the H2O and Gravity acquisitions completed in late 2024 and early 2025, respectively.

Management said its combined crude, gas and water offering has improved its competitive position, particularly in Lea County, New Mexico. Hobbs said activity among producers in the Northern Delaware remains strong and that Delek Logistics’ infrastructure is located near customer acreage and drilling activity.

During the question-and-answer session, management said higher commodity prices and stronger Waha natural-gas prices have supported higher production forecasts for the second half of 2026 and for 2027. Mohit Bhardwaj, executive vice president of new energy, strategy and investor relations, said stronger Waha pricing is a relatively modest direct benefit to results but a more significant positive for volumes.

Segment results and capital program Gathering and processing adjusted EBITDA totaled $104 million in the second quarter, up from $78 million a year earlier. The increase was driven primarily by higher Libby utilization and stronger realized margins in the Permian crude business, Chief Financial Officer Robert Wright said.

Wholesale marketing and terminaling adjusted EBITDA was approximately $13 million, compared with $23 million in the prior-year quarter. Wright said the decline was largely related to the effects of the 2024 amend-and-extend agreement with Delek. Storage and transportation adjusted EBITDA was $16 million, compared with $17 million a year earlier, primarily reflecting a January 2026 related-party transaction. Investments in pipeline joint ventures contributed $21 million of adjusted EBITDA, up from $17 million in the second quarter of 2025, led by continued results from the Wink-to-Webster joint venture. Total capital spending was approximately $61 million in the second quarter, including $51 million of growth capital. The growth spending primarily funded drilling of the first AGI well and construction of sour-gas gathering infrastructure, along with work on power solutions for the Libby Gas Complex.

The partnership expects its $180 million to $190 million full-year growth capital program to generate up to $75 million of run-rate EBITDA. Bhardwaj said the company expects about $15 million of that EBITDA contribution in 2026 and $60 million in 2027.

Distribution rises for 54th consecutive quarter Distributable cash flow, as adjusted, was approximately $81 million, while the distributable cash flow coverage ratio was about 1.33 times. The board approved a quarterly distribution of $1.135 per unit, marking the partnership’s 54th consecutive quarterly distribution increase.

Delek Logistics ended the quarter with a leverage ratio of 4.23 times, modestly higher than in the first quarter because of growth investments, Wright said. Management reiterated its long-term leverage target of 3.5 times but said it expects to manage around 4 times while pursuing growth opportunities and reduce leverage as the expected EBITDA from new projects is realized.

During the quarter, the company issued $800 million of senior notes due 2034, fully retired its 2028 notes and partially redeemed its 2029 notes. Wright said the refinancing lowered annual interest costs and extended the partnership’s maturity profile. Liquidity stood at approximately $1.1 billion at quarter-end.

Soreq said the company will continue to consider acquisitions, but only when they are accretive to leverage, coverage and free cash flow and align with its broader strategy.

About Delek Logistics Partners (NYSE:DKL)Delek Logistics Partners L.P. NYSE: DKL is a master limited partnership formed in 2011 through contributions of pipeline, terminal and crude oil gathering assets by its sponsor, Delek US Holdings, Inc Headquartered in Brentwood, Tennessee, the partnership is managed by Delek Logistics GP, LLC, an affiliate of Delek US. Delek Logistics Partners owns and operates an integrated network of petroleum pipelines and terminals that support the movement, storage and throughput of crude oil and refined products.

The partnership's core operations include crude oil gathering and processing systems, long-haul pipeline transportation and storage terminal services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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BRENTWOOD, Tenn.--(BUSINESS WIRE)--Delek Logistics Partners, LP (NYSE: DKL) ("Delek Logistics") today announced its financial results for the second quarter 2026.

“Delek Logistics delivered another strong quarter in 2026, underscoring the durability of our integrated crude, gas, and water platform and the growing contribution from third-party cash flows. As we continue positioning Delek Logistics for long-term success, we are pleased to announce that Mark Hobbs has transitioned into the role of Executive Vice President of DKL, and that Kris Kindrick has joined Delek Logistics Partners as Senior Vice President, Commercial. These changes reflect our ongoing investment in commercial leadership and the expertise needed to support our growth strategy,” said Avigal Soreq, President of Delek Logistics’ general partner.

“With the near completion of the integrated sour gas system at the Libby Complex and growing demand for our sour gas treating and acid gas injection capabilities, DKL is increasingly positioned as a differentiated Delaware Basin midstream platform with a clear path to long-term value creation.”

“We are reaffirming our 2026 EBITDA guidance of $520 to $560 million, supported by a more diversified cash flow profile, disciplined management of liquidity and leverage, and the strategic progress made to enhance DKL’s standalone financial profile. As we enter the second half of the year, we remain focused on executing against our growth opportunities, optimizing our asset base, and continuing to deliver attractive returns to unitholders," Mr. Soreq continued.

Delek Logistics reported second quarter 2026 net income of $28.9 million or $0.54 per diluted common limited partner unit. This compares to net income of $44.6 million, or $0.83 per diluted common limited partner unit, in the second quarter 2025. Net cash provided by operating activities was $71.2 million in the second quarter 2026 compared to $107.4 million in the second quarter 2025. Distributable cash flow, as adjusted was $80.5 million in the second quarter 2026, compared to $72.5 million in the second quarter 2025.

For the second quarter 2026, earnings before interest, taxes, depreciation and amortization ("EBITDA") was $120.0 million compared to $96.6 million in the second quarter 2025. The increase was primarily driven by performance from the DPG business which was associated with the prior year dropdown from Delek. The second quarter 2026 EBITDA included $0.1 million of transaction costs and $24.0 million of sales-type lease accounting impacts. For the second quarter 2026, Adjusted EBITDA was $143.5 million compared to $127.4 million in the second quarter 2025.

Distribution and Liquidity

On July 22, 2026, Delek Logistics declared a quarterly cash distribution of $1.135 per common limited partner unit for the second quarter 2026. This distribution will be paid on August 10, 2026 to unitholders of record on August 3, 2026. This represents a 1.8% increase over Delek Logistics’ second quarter 2025 distribution of $1.115 per common limited partner unit.

As of June 30, 2026, Delek Logistics had total debt of approximately $2.4 billion and cash of $13.7 million and a leverage ratio of approximately 4.23x. Additional borrowing capacity under the $1.3 billion third party revolving credit facility increased to $1.1 billion.

Consolidated Operating Results

Adjusted EBITDA in the second quarter 2026 was $143.5 million compared to $127.4 million in the second quarter 2025. The $16.1 million increase in Adjusted EBITDA reflects higher margins and increased interest income related to sales-type leases.

Gathering and Processing Segment

Adjusted EBITDA in the second quarter 2026 was $104.1 million compared with $78.0 million in the second quarter 2025. The increase was primarily due to increased margins.

Wholesale Marketing and Terminalling Segment

Adjusted EBITDA in the second quarter 2026 was $12.6 million, compared with second quarter 2025 Adjusted EBITDA of $23.3 million. The decrease was primarily due to the termination of the East Texas marketing agreement with Delek Holdings and a decrease in wholesale margins.

Storage and Transportation Segment

Adjusted EBITDA in the second quarter 2026 was $16.3 million, compared with $16.9 million in the second quarter 2025. The decrease was primarily due to decreased income from sales-type leases.

Investments in Pipeline Joint Ventures Segment

During the second quarter 2026, Adjusted EBITDA from equity method investments was $20.7 million compared to $17.0 million in the second quarter 2025. The increase was primarily due to increase in income from W2W, partially offset by a decrease in income from our investments in our other joint ventures.

Corporate

Adjusted EBITDA in the second quarter 2026 was a loss of $10.1 million compared to a loss of $7.9 million in the second quarter 2025.

Second Quarter 2026 Results | Conference Call Information

Delek Logistics will hold a conference call to discuss its second quarter 2026 results on Wednesday, August 5, 2026 at 11:30 a.m. Central Time. Investors will have the opportunity to listen to the conference call live by going to www.DelekLogistics.com. Participants are encouraged to register at least 15 minutes early to download and install any necessary software. An archived version of the replay will also be available at www.DelekLogistics.com for 90 days.

About Delek Logistics Partners, LP

Delek Logistics is a midstream energy master limited partnership headquartered in Brentwood, Tennessee. Through its owned assets and joint ventures located primarily in and around the Permian Basin, the Delaware Basin and other select areas in the Gulf Coast region, Delek Logistics provides gathering, pipeline and other transportation services primarily for crude oil and natural gas customers, storage, wholesale marketing and terminalling services primarily for intermediate and refined product customers, and water disposal and recycling services. Delek US Holdings, Inc. ("Delek US") owns the general partner interest as well as a majority limited partner interest in Delek Logistics, and is also a significant customer.

Safe Harbor Provisions Regarding Forward-Looking Statements

This press release contains forward-looking statements that are based upon current expectations and involve a number of risks and uncertainties. Statements concerning current estimates, expectations and projections about future results, performance, prospects, opportunities, plans, actions and events and other statements, concerns or matters that are not historical facts are “forward-looking statements,” as that term is defined under the federal securities laws. These statements contain words such as “possible,” “believe,” “should,” “could,” “would,” “predict,” “plan,” “estimate,” “intend,” “may,” “anticipate,” “will,” “if,” “expect” or similar expressions, as well as statements in the future tense. Forward-looking statements include, but are not limited to, anticipated performance and financial position; statements regarding future growth at Delek Logistics; distributions and the amounts and timing thereof; potential dropdown inventory; projected benefits of the Delaware Gathering, Permian Gathering, H2O Midstream and Gravity Water Midstream acquisitions; expected earnings or returns from joint ventures or other acquisitions; expansion projects; ability to create long-term value for our unit holders; financial flexibility and borrowing capacity; and distribution growth.

Investors are cautioned that the following important factors, including among others, may affect these forward-looking statements: the fact that a significant portion of Delek Logistics' revenue is derived from Delek US, thereby subjecting us to Delek US' business risks; political or regulatory developments, including tariffs, taxes and changes in governmental policies relating to crude oil, natural gas, refined products or renewables; risks and costs relating to the age and operational hazards of our assets including, without limitation, costs, penalties, regulatory or legal actions and other effects related to releases, spills and other hazards inherent in transporting and storing crude oil and intermediate and finished petroleum products; Delek Logistics' ability to realize cost reductions; the impact of adverse market conditions affecting the utilization of Delek Logistics' assets and business performance, including margins generated by its wholesale fuel business; risks and uncertainties with respect to the possible benefits of the Delaware Gathering, Permian Gathering, H2O Midstream and Gravity transactions, as well as from integration post-closing; risks related to exposure to Permian Basin crude oil, such as supply, pricing, gathering, production and transportation capacity; uncertainties regarding actions by OPEC and non-OPEC oil producing countries impacting crude oil production and pricing; an inability of Delek US to grow as expected as it relates to our potential future growth opportunities, including dropdowns, and other potential benefits; projected capital expenditures; scheduled turnaround activity; the results of our investments in joint ventures; and other risks as disclosed in our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other reports and filings with the United States Securities and Exchange Commission.

Forward-looking statements should not be read as a guarantee of future performance or results and will not be accurate indications of the times at, or by, which such performance or results will be achieved.

Forward-looking information is based on information available at the time and/or management's good faith belief with respect to future events, and is subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the statements. Delek Logistics undertakes no obligation to update or revise any such forward-looking statements to reflect events or circumstances that occur, or which Delek Logistics becomes aware of, after the date hereof, except as required by applicable law or regulation.

Non-GAAP Disclosures

Our management uses certain "non-GAAP" operational measures to evaluate our operating segment performance and non-GAAP financial measures to evaluate past performance and prospects for the future to supplement our financial information presented in accordance with United States ("U.S.") Generally Accepted Accounting Principles ("GAAP"). These financial and operational non-GAAP measures are important factors in assessing our operating results and profitability and include:

Earnings before interest, taxes, depreciation and amortization ("EBITDA") - calculated as net income before interest, income taxes, depreciation and amortization and proportional interest, taxes, depreciation and amortization of equity method investments. Adjusted EBITDA - EBITDA adjusted for throughput and storage fees associated with the lease component of commercial agreements subject to sales-type lease accounting and certain identified infrequently occurring items, non-cash items, and items that are not attributable to or indicative of our on-going operations or that may obscure our underlying results and trends. Distributable cash flow - calculated as net cash flow from operating activities adjusted for changes in assets and liabilities, maintenance capital expenditures net of reimbursements, sales-type lease receipts, net of income recognized and other adjustments. Distributable cash flow, as adjusted - calculated as distributable cash flow adjusted to exclude significant, infrequently occurring transaction costs. Our EBITDA, Adjusted EBITDA, distributable cash flow and distributable cash flow, as adjusted, measures are non-GAAP supplemental financial measures that management and external users of our consolidated financial statements, such as industry analysts, investors, lenders and rating agencies, may use to assess:

Delek Logistics' operating performance as compared to other publicly traded partnerships in the midstream energy industry, without regard to historical cost basis or, in the case of EBITDA and Adjusted EBITDA, financing methods; the ability of our assets to generate sufficient cash flow to make distributions to our unitholders on a current and on-going basis; Delek Logistics' ability to incur and service debt and fund capital expenditures; and the viability of acquisitions and other capital expenditure projects and the returns on investment of various investment opportunities. We believe that the presentation of these non-GAAP measures provide information useful to investors in assessing our financial condition and results of operations and assists in evaluating our ongoing operating performance and liquidity for current and comparative periods. Non-GAAP measures should not be considered alternatives to net income, operating income, cash flow from operating activities or any other measure of financial performance or liquidity presented in accordance with U.S. GAAP. Non-GAAP measures have important limitations as analytical tools, because they exclude some, but not all, items that affect net earnings, net cash provided by operating activities and operating income. These measures should not be considered substitutes for their most directly comparable U.S. GAAP financial measures. Additionally, because EBITDA, Adjusted EBITDA, distributable cash flow and distributable cash flow, as adjusted may be defined differently by other partnerships in our industry, our definitions may not be comparable to similarly titled measures of other partnerships, thereby diminishing their utility. See the accompanying tables in this earnings release for a reconciliation of these non-GAAP measures to the most directly comparable GAAP measures. However, due to the inherent difficulty and impracticability of estimating certain amounts required by U.S. GAAP with a reasonable degree of certainty at this time without unreasonable effort and imprecision, we have not provided a reconciliation of forward-looking Adjusted EBITDA guidance.

Delek Logistics Partners, LP

Consolidated Balance Sheets (Unaudited)

(In thousands, except unit data)

June 30, 2026

December 31, 2025

ASSETS

Current assets:

Cash and cash equivalents

$

13,705

$

10,892

Accounts receivable

134,869

114,544

Accounts receivable from related parties

259,578

216,641

Lease receivable - affiliate

33,158

36,362

Inventory

23,708

17,913

Other current assets

5,129

4,416

Total current assets

470,147

400,768

Property, plant and equipment:

Property, plant and equipment

1,936,429

1,827,530

Less: accumulated depreciation

(460,068

)

(403,523

)

Property, plant and equipment, net

1,476,361

1,424,007

Equity method investments

335,690

340,070

Customer relationship intangibles, net

221,923

233,022

Other intangibles, net

145,700

137,439

Goodwill

12,203

12,203

Operating lease right-of-use assets

8,957

11,683

Finance lease right-of-use assets

29,256

27,802

Net investment in leases - affiliate

156,426

185,656

Other non-current assets

13,801

6,618

Total assets

$

2,870,464

$

2,779,268

LIABILITIES AND PARTNERS' (DEFICIT) EQUITY

Current liabilities:

Accounts payable

$

427,051

$

292,908

Interest payable

24,356

30,557

Excise and other taxes payable

21,194

16,569

Current portion of operating lease liabilities

2,170

3,027

Current portion of finance lease liabilities

9,834

8,310

Accrued expenses and other current liabilities

4,690

5,122

Total current liabilities

489,295

356,493

Non-current liabilities:

Long-term debt, net of current portion

2,372,717

2,344,420

Operating lease liabilities, net of current portion

2,582

3,551

Finance lease liabilities, net of current portion

20,494

20,289

Asset retirement obligations

26,157

24,278

Other non-current liabilities

28,510

24,123

Total non-current liabilities

2,450,460

2,416,661

Total liabilities

2,939,755

2,773,154

Partners' (deficit) equity:

Common unitholders - public; 19,688,283 units issued and outstanding at June 30, 2026 (19,643,923 at December 31, 2025)

488,877

510,376

Common unitholders - Delek Holdings; 33,508,831 units issued and outstanding at June 30, 2026, exclusive of 359,372 issued units held by the Partnership in Treasury (33,868,203 issued and outstanding at December 31, 2025)

(558,168

)

(504,262

)

Total partners' (deficit) equity

(69,291

)

6,114

Total liabilities and partners' (deficit) equity

$

2,870,464

$

2,779,268

Delek Logistics Partners, LP

Consolidated Statement of Income and Comprehensive Income (Unaudited)

(In thousands, except unit and per unit data)

Three Months Ended June 30,

Six Months Ended June 30,

2026

2025

2026

2025

Net revenues:

Affiliate

$

204,764

$

114,083

$

371,454

$

240,404

Third party

179,996

132,267

310,772

255,876

Net revenues

384,760

246,350

682,226

496,280

Cost of sales:

Cost of materials and other - affiliate

148,955

84,411

257,140

174,377

Cost of materials and other - third party

90,007

34,950

150,433

74,036

Operating expenses (excluding depreciation and amortization presented below)

42,794

37,525

89,390

78,155

Depreciation and amortization

36,914

25,879

72,267

52,377

Total cost of sales

318,670

182,765

569,230

378,945

Operating expenses related to wholesale business (excluding depreciation and amortization presented below)

543

549

992

904

General and administrative expenses

3,280

8,944

7,554

17,808

Depreciation and amortization

491

1,218

1,639

2,436

Other operating expense (income), net

(120

)

438

906

(3,848

)

Total operating costs and expenses

322,864

193,914

580,321

396,245

Operating income

61,896

52,436

101,905

100,035

Interest income

(22,545

)

(23,538

)

(54,830

)

(46,085

)

Interest expense

70,090

41,711

121,682

82,812

Income from equity method investments

(14,491

)

(10,536

)

(26,114

)

(20,686

)

Other income, net

(29

)

(20

)

(56

)

(41

)

Total non-operating expenses, net

33,025

7,617

40,682

16,000

Income before income taxes

28,871

44,819

61,223

84,035

Income tax expense

—

245

—

427

Net income

28,871

44,574

61,223

83,608

Comprehensive income

28,871

44,574

$

61,223

$

83,608

Net income per unit:

Basic

$

0.54

$

0.83

$

1.15

$

1.56

Diluted

$

0.54

$

0.83

$

1.15

$

1.56

Weighted average common units outstanding:

Basic

53,175,413

53,445,803

53,343,964

53,524,792

Diluted

53,240,181

53,473,271

53,430,114

53,553,227

Delek Logistics Partners, LP

Condensed Consolidated Statements of Cash Flows (In thousands)

Three Months Ended June 30,

Six Months Ended June 30,

(Unaudited)

2026

2025

2026

2025

Cash flows from operating activities

Net cash provided by operating activities

$

71,198

$

107,423

$

241,574

$

138,973

Cash flows from investing activities

Net cash used in investing activities

(59,793

)

(112,916

)

(109,091

)

(347,683

)

Cash flows from financing activities

Net cash (used in) provided by financing activities

(7,607

)

4,822

(129,670

)

204,762

Net decrease in cash and cash equivalents

3,798

(671

)

2,813

(3,948

)

Cash and cash equivalents at the beginning of the period

9,907

2,107

10,892

5,384

Cash and cash equivalents at the end of the period

$

13,705

$

1,436

$

13,705

$

1,436

Delek Logistics Partners, LP

Reconciliation of Amounts Reported Under U.S. GAAP (Unaudited)

(In thousands)

Three Months Ended June 30,

Six Months Ended June 30,

2026

2025

2026

2025

Reconciliation of Net Income to EBITDA:

Net income

$

28,871

$

44,574

$

61,223

$

83,608

Add:

Income tax expense

—

245

—

427

Depreciation and amortization

37,405

27,097

73,906

54,813

Proportional interest, taxes, depreciation and amortization from equity-method investments

6,219

6,505

12,915

13,170

Interest expense, net

47,545

18,173

66,852

36,727

EBITDA

120,040

96,594

214,896

188,745

Throughput and storage fees for sales-type leases

24,033

27,406

59,414

55,112

DPG Inventory Impact

(34

)

900

265

900

Transaction costs

138

2,496

1,299

5,845

Unrealized inventory/commodity hedging (gain) loss where the hedged item is not yet recognized in the financial statements

$

(716

)

$

—

(129

)

—

Adjusted EBITDA

$

143,461

$

127,396

$

275,745

$

250,602

Reconciliation of net cash from operating activities to distributable cash flow:

Net cash provided by operating activities

$

71,198

$

107,423

$

241,574

$

138,973

Changes in assets and liabilities

14,744

(37,602

)

(79,488

)

(5,522

)

Non-cash lease expense

(1,747

)

(1,352

)

(2,848

)

(3,619

)

Net distributions from equity method investments in investing activities

3,064

3,443

8,089

5,570

Regulatory and sustaining capital expenditures not distributable

(9,552

)

(4,598

)

(13,628

)

(5,243

)

Reimbursement from Delek Holdings for capital expenditures

10

10

22

19

Sales-type lease receipts, net of income recognized

1,488

3,868

4,584

9,027

Other non-cash adjustments

1,164

(1,154

)

297

2,538

Distributable Cash Flow

80,369

70,038

158,602

141,743

Transaction costs

138

2,496

1,299

5,845

Distributable Cash Flow, as adjusted (1)

$

80,507

$

72,534

$

159,901

$

147,588

Delek Logistics Partners, LP

Distributable Coverage Ratio Calculation (Unaudited)

(In thousands)

Three Months Ended June 30,

Six Months Ended June 30,

2026

2025

2026

2025

Distributions to partners of Delek Logistics, LP

$

60,379

$

59,612

$

120,459

$

118,932

Distributable cash flow

$

80,369

$

70,038

$

158,602

$

141,743

Distributable cash flow coverage ratio (1)

1.33x

1.17x

1.32x

1.19x

Distributable cash flow, as adjusted

80,507

72,534

$

159,901

$

147,588

Distributable cash flow coverage ratio, as adjusted (2)

1.33x

1.22x

1.33x

1.24x

Delek Logistics Partners, LP

Segment Data (Unaudited)

(In thousands)

Three Months Ended June 30, 2026

Gathering and
Processing

Wholesale Marketing and Terminalling

Storage and Transportation

Investments in
Pipeline Joint
Ventures

Corporate and
Other

Consolidated

Net revenues:

Affiliate

$

63,137

$

115,853

$

25,774

$

—

$

—

$

204,764

Third party

132,002

46,875

1,119

—

—

179,996

Total revenue

$

195,139

$

162,728

$

26,893

$

—

$

—

$

384,760

Adjusted EBITDA

$

104,058

$

12,552

$

16,280

$

20,710

$

(10,139

)

$

143,461

Transaction costs

—

—

—

—

138

138

DPG Inventory Impact

(34

)

—

—

—

—

(34

)

Unrealized inventory/commodity hedging (gain) loss where the hedged item is not yet recognized in the financial statements

(716

)

—

—

—

—

(716

)

Throughput and storage fees for sales-type leases

11,422

3,942

8,669

—

—

24,033

Segment EBITDA

$

93,386

$

8,610

$

7,611

$

20,710

$

(10,277

)

120,040

Depreciation and amortization

$

33,870

$

762

$

2,000

$

—

$

773

37,405

Proportional interest, taxes, depreciation and amortization from equity-method investments

$

—

$

—

$

—

$

6,219

$

—

6,219

Interest income

$

(10,004

)

$

(4,089

)

$

(8,452

)

$

—

$

—

(22,545

)

Interest expense

$

—

$

—

$

—

$

—

$

70,090

70,090

Income tax expense

—

Net income

$

28,871

Six Months Ended June 30, 2026

Gathering and
Processing

Wholesale Marketing and Terminalling

Storage and Transportation

Investments in
Pipeline Joint
Ventures

Corporate and
Other

Consolidated

Net revenues:

Affiliate

$

112,383

$

209,779

$

49,292

$

—

$

—

$

371,454

Third party

237,432

70,745

2,595

—

—

310,772

Total revenue

$

349,815

$

280,524

$

51,887

$

—

$

—

$

682,226

Adjusted EBITDA

$

186,986

$

26,866

$

41,442

$

39,029

$

(18,578

)

$

275,745

Transaction costs

—

—

—

—

1,299

1,299

DPG Inventory Impact

265

—

—

—

—

265

Unrealized inventory/commodity hedging (gain) loss where the hedged item is not yet recognized in the financial statements

(129

)

—

—

—

—

(129

)

Throughput and storage fees for sales-type leases

22,844

8,494

28,076

—

—

59,414

Segment EBITDA

$

164,006

$

18,372

$

13,366

$

39,029

$

(19,877

)

214,896

Depreciation and amortization

67,111

1,530

3,725

—

1,540

73,906

Proportional interest, taxes, depreciation and amortization from equity-method investments

—

—

—

12,915

—

12,915

Interest income

(20,162

)

(8,106

)

(26,562

)

—

—

(54,830

)

Interest expense

—

—

—

—

121,682

121,682

Income tax expense

—

Net income

$

61,223

Three Months Ended June 30, 2025

Gathering and Processing

Wholesale Marketing and Terminalling

Storage and Transportation

Investments in
Pipeline Joint
Ventures

Corporate and Other

Consolidated

Net revenues:

Affiliate

$

39,098

$

52,367

$

22,618

$

—

$

—

$

114,083

Third party

78,669

52,248

1,350

—

—

132,267

Total revenue

$

117,767

$

104,615

$

23,968

$

—

$

—

$

246,350

Adjusted EBITDA

$

77,984

$

23,307

$

16,928

$

17,041

$

(7,864

)

$

127,396

Transaction costs

—

—

—

—

2,496

2,496

DPG Inventory Impact

900

—

—

—

—

900

Throughput and storage fees not included in revenue

13,137

4,368

9,901

—

—

27,406

Segment EBITDA

$

63,947

$

18,939

$

7,027

$

17,041

$

(10,360

)

96,594

Depreciation and amortization

$

24,085

$

952

$

1,301

$

—

$

759

27,097

Proportional interest, taxes, depreciation and amortization from equity-method investments

$

—

$

—

$

—

$

6,505

$

—

6,505

Interest income

(11,113

)

(4,109

)

(8,316

)

—

—

(23,538

)

Interest expense

$

—

$

—

$

—

$

—

$

41,711

41,711

Income tax expense

245

Net income

$

44,574

Six Months Ended June 30, 2025

Gathering and
Processing

Wholesale Marketing and Terminalling

Storage and Transportation

Investments in
Pipeline Joint
Ventures

Corporate and
Other

Consolidated

Net revenues:

Affiliate

$

77,665

$

117,075

$

45,664

$

—

$

—

$

240,404

Third party

158,705

94,239

2,932

—

—

255,876

Total revenue

$

236,370

$

211,314

$

48,596

$

—

$

—

$

496,280

Adjusted EBITDA

$

159,059

$

41,057

$

31,399

$

33,856

$

(14,769

)

$

250,602

Transaction costs

—

—

—

—

5,845

5,845

DPG Inventory Impact

900

—

—

—

—

900

Throughput and storage fees not included in revenue

26,273

8,881

19,958

—

—

55,112

Segment EBITDA

$

131,886

$

32,176

$

11,441

$

33,856

$

(20,614

)

188,745

Depreciation and amortization

$

48,808

$

1,904

$

2,582

$

—

$

1,519

54,813

Proportional interest, taxes, depreciation and amortization from equity-method investments

$

—

$

—

$

—

$

13,170

$

—

13,170

Interest income

(22,478

)

(8,270

)

(15,337

)

—

—

(46,085

)

Interest expense

$

—

$

—

$

—

$

—

$

82,812

82,812

Income tax expense

427

Net income

$

83,608

Delek Logistics Partners, LP

Segment Capital Spending

(In thousands)

Three Months Ended June 30,

Six Months Ended June 30, 2026

Gathering and Processing

2026

2025

2026

2025

Regulatory capital spending

$

1,987

$

—

$

2,875

$

—

Sustaining capital spending

6,686

2,627

9,602

2,640

Growth capital spending

50,950

114,591

96,665

185,889

Segment capital spending

59,623

117,218

109,142

188,529

Wholesale Marketing and Terminalling

Regulatory capital spending

10

—

74

11

Sustaining capital spending

67

65

80

144

Growth capital spending

373

—

407

—

Segment capital spending

450

65

561

155

Storage and Transportation

Regulatory capital spending

15

799

13

1,020

Sustaining capital spending

786

1,107

983

1,428

Segment capital spending

801

1,906

996

2,448

Consolidated

Regulatory capital spending

2,012

799

2,962

1,031

Sustaining capital spending

7,539

3,799

10,665

4,212

Growth capital spending

51,323

114,591

97,072

185,889

Total capital spending

$

60,874

$

119,189

$

110,699

$

191,132

Delek Logistics Partners, LP

Segment Operating Data (Unaudited)

Three Months Ended June 30,

Six Months Ended June 30,

2026

2025

2026

2025

Gathering and Processing Segment:

Throughputs (average bpd)

El Dorado Assets:

Crude pipelines (non-gathered)

74,197

71,220

68,068

66,580

Refined products pipelines to Enterprise Systems

52,059

53,597

48,379

54,797

El Dorado Gathering System

9,737

9,983

9,485

10,151

East Texas Crude Logistics System

34,259

33,101

30,791

30,027

Midland Gathering System

209,957

207,183

214,057

209,059

Plains Connection System

176,680

158,881

194,421

169,004

Delaware Gathering Assets:

Natural Gas Gathering and Processing (Mcfd(1))

80,715

60,940

72,355

60,378

Crude Oil Gathering (average bpd)

157,156

137,167

143,380

129,737

Water Disposal and Recycling (average bpd)

105,396

116,504

108,269

122,468

Midland Water Gathering System:

Water Disposal and Recycling (average bpd) (3)

701,435

600,891

679,223

613,817

Wholesale Marketing and Terminalling Segment:

East Texas - Tyler Refinery sales volumes (average bpd) (2)

—

67,516

—

67,695

West Texas marketing throughputs (average bpd)

4,191

10,757

7,960

10,791

West Texas gross margin per barrel

$

2.88

$

4.12

$

3.65

$

2.88

Terminalling throughputs (average bpd) (4)

159,363

150,971

147,619

144,030

Delek Logistics Partners, L.P. (DKL - Free Report) could be a solid addition to your portfolio given a notable revision in the company's earnings estimates. While the stock has been gaining lately, the trend might continue since its earnings outlook is still improving.

The rising trend in estimate revisions, which is a result of growing analyst optimism on the earnings prospects of this company, should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. Our stock rating tool -- the Zacks Rank -- is principally built on this insight.

The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record of outperformance, with Zacks #1 Ranked stocks generating an average annual return of +25% since 2008.

Consensus earnings estimates for the next quarter and full year have moved considerably higher for Delek Logistics Partners, L.P., as there has been strong agreement among the covering analysts in raising estimates.

The chart below shows the evolution of forward 12-month Zacks Consensus EPS estimate:

12 Month EPS

Current-Quarter Estimate RevisionsThe earnings estimate of $1.12 per share for the current quarter represents a change of +34.9% from the number reported a year ago.

The Zacks Consensus Estimate for Delek Logistics Partners has increased 8.11% over the last 30 days, as one estimate has gone higher compared to no negative revisions.

Current-Year Estimate RevisionsFor the full year, the earnings estimate of $4.12 per share represents a change of +24.9% from the year-ago number.

There has been an encouraging trend in estimate revisions for the current year as well. Over the past month, one estimate has moved up for Delek Logistics Partners versus no negative revisions. This has pushed the consensus estimate 6.74% higher.

Favorable Zacks RankThanks to promising estimate revisions, Delek Logistics Partners currently carries a Zacks Rank #2 (Buy). The Zacks Rank is a tried-and-tested rating tool that helps investors effectively harness the power of earnings estimate revisions and make the right investment decision.

You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

Our research shows that stocks with Zacks Rank #1 (Strong Buy) and 2 (Buy) significantly outperform the S&P 500.

Bottom LineWhile strong estimate revisions for Delek Logistics Partners have attracted decent investments and pushed the stock 11.3% higher over the past four weeks, further upside may still be left in the stock. So, you may consider adding it to your portfolio right away.

On July 22, 2026, Delek Logistics Partners LP (DKL) shares rose 3.6% today, bringing the current price to $57.22. The stock has been quite volatile over the pas

Delek Logistics Partners offers an 8.24% forward yield, well supported by robust cash flow and resilient operating performance amid an energy export boom. DKL trades at an attractive 9.7x FWD EV/EBITDA, with fair value estimated at $60–$65 per unit, underpinned by strong growth and market tailwinds. Recent aggressive PP&E investments and rising revenue per barrel (up 37.7% YoY) highlight DKL's pricing power and strategic positioning in the Permian Basin.

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Delek Logistics Partners, LP (NYSE:DKL), which plays a critical role in the energy supply chain, just hit a milestone that almost no MLP can claim: 52 consecutive quarterly distribution increases spanning 13 consecutive years of distribution growth. The current annualized payout of ~$4.50 per unit, against a recent unit price of $52.76, translates to an 8.53% yield, which ranks among the highest in its peer group. But a closer look at the cash flow mechanics raises a legitimate question about whether that streak reflects financial strength or financial engineering.

Delek Logistics Partners (DKL) The Streak Is Real. The Coverage Is Not. President Avigal Soreq called the milestone “an extraordinary achievement,” reflecting “financial prudence.” The operational story does support a certain level of optimism as full-year 2025 adjusted EBITDA hit a record $536 million, with each quarter setting a new high, from $116.54M in Q1 to $142.28M in Q4. Delaware Basin crude gathering volumes reached 153,745 barrels per day in Q3 2025, up from 125,123 bpd a year earlier, and water disposal volumes nearly doubled to 616,484 bpd.

The cash flow picture tells a more complicated story, especially in 2025, when the operating cash flow of $237.1M barely covered dividend payouts of $238.1M, resulting in a coverage ratio of essentially 1.0x. Capital expenditures of $267.8M exceeded operating cash flow entirely and were funded through capital markets. At the quarterly level, Q4 2025 was starker: operating cash flow of $31M covered only about half the $59.9M in distributions paid that quarter. The Q4 2025 adjusted distributable cash flow coverage ratio was approximately 1.22x, a metric that adds back non-cash items while still reflecting a lean business.

Leverage and Analyst Divergence Total debt stands at approximately $2.3 billion against a leverage ratio of ~4.07x as of Q4 2025, an improvement from the 4.44x peak in Q3. Somewhat concerning to shareholders is that their equity has eroded to just $6.11M, and the reported payout ratio sits at 136.78%. CFO Robert Wright acknowledged the tension directly: “While we are driving meaningful financial and operational growth across the partnership, we remain equally focused on achieving our long-term leverage and coverage objectives.”

When it comes to what think analysts think, there is some split thinking as Citigroup moved to Neutral in March 2026 with a $52 price target, citing the recent earnings miss and “limited growth potential.” Raymond James took the opposite view, maintaining an Outperform rating and raising its target to $55, citing cash flow growth and operational execution. For the moment, the consensus sits at Hold.

What to Watch The bull case hinges on the Libby Complex sour gas and acid gas injection buildout, which management describes as a “step change” in utilization and a multi-year growth engine for the Delaware Basin. The 2026 EBITDA guidance range of $520M to $560M, even absorbing a ~$10M Winter Storm Fern hit in Q1, would represent continued EBITDA growth. If guidance is met and leverage continues declining toward management’s stated targets, the distribution streak has a credible path forward. If capex remains elevated and coverage stays thin, the 53rd increase will be a harder sell.

Posted by Defense World Staff on Apr 3rd, 2026

Delek Logistics Partners, L.P. (NYSE:DKL – Get Free Report) has received a consensus recommendation of “Hold” from the six brokerages that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $52.25.

A number of brokerages recently issued reports on DKL. Citigroup restated a “neutral” rating and issued a $52.00 target price (up from $47.00) on shares of Delek Logistics Partners in a research note on Friday, March 6th. Raymond James Financial reissued an “outperform” rating and issued a $55.00 price objective on shares of Delek Logistics Partners in a report on Thursday, March 5th. Zacks Research cut Delek Logistics Partners from a “hold” rating to a “strong sell” rating in a research note on Friday, January 23rd. Weiss Ratings raised Delek Logistics Partners from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 4th. Finally, Truist Financial assumed coverage on Delek Logistics Partners in a research report on Tuesday, March 24th. They issued a “hold” rating and a $57.00 target price on the stock.

Check Out Our Latest Research Report on Delek Logistics Partners

Delek Logistics Partners Trading Down 0.5% Shares of Delek Logistics Partners stock opened at $50.20 on Tuesday. The firm’s 50 day simple moving average is $52.55 and its two-hundred day simple moving average is $47.90. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 0.47 and a beta of 0.54. Delek Logistics Partners has a 12-month low of $34.59 and a 12-month high of $55.89. The company has a current ratio of 1.12, a quick ratio of 1.07 and a debt-to-equity ratio of 386.77.

Delek Logistics Partners (NYSE:DKL – Get Free Report) last posted its quarterly earnings data on Friday, February 27th. The oil and gas producer reported $0.88 EPS for the quarter, missing the consensus estimate of $1.26 by ($0.38). The company had revenue of $255.77 million for the quarter, compared to analyst estimates of $283.64 million. Delek Logistics Partners had a return on equity of 461.30% and a net margin of 17.41%. Analysts predict that Delek Logistics Partners will post 3.01 EPS for the current year.

Delek Logistics Partners Increases Dividend The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 12th. Shareholders of record on Thursday, February 5th were paid a dividend of $1.125 per share. This represents a $4.50 annualized dividend and a yield of 9.0%. The ex-dividend date was Thursday, February 5th. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $1.12. Delek Logistics Partners’s dividend payout ratio (DPR) is presently 136.78%.

Institutional Trading of Delek Logistics Partners A number of hedge funds and other institutional investors have recently made changes to their positions in DKL. Motiv8 Investments LLC acquired a new position in Delek Logistics Partners during the fourth quarter valued at $192,000. Van ECK Associates Corp boosted its holdings in Delek Logistics Partners by 4.9% in the fourth quarter. Van ECK Associates Corp now owns 5,547 shares of the oil and gas producer’s stock valued at $248,000 after purchasing an additional 258 shares during the last quarter. Wells Fargo & Company MN grew its position in Delek Logistics Partners by 31.7% during the 4th quarter. Wells Fargo & Company MN now owns 13,523 shares of the oil and gas producer’s stock worth $603,000 after purchasing an additional 3,257 shares during the period. American Financial Group Inc. grew its position in Delek Logistics Partners by 3.0% during the 4th quarter. American Financial Group Inc. now owns 17,000 shares of the oil and gas producer’s stock worth $759,000 after purchasing an additional 500 shares during the period. Finally, Alps Advisors Inc. raised its stake in shares of Delek Logistics Partners by 3.8% during the 4th quarter. Alps Advisors Inc. now owns 4,489,123 shares of the oil and gas producer’s stock valued at $200,305,000 after buying an additional 165,741 shares during the last quarter. Institutional investors and hedge funds own 11.75% of the company’s stock.

About Delek Logistics Partners (Get Free Report)

Delek Logistics Partners L.P. (NYSE: DKL) is a master limited partnership formed in 2011 through contributions of pipeline, terminal and crude oil gathering assets by its sponsor, Delek US Holdings, Inc Headquartered in Brentwood, Tennessee, the partnership is managed by Delek Logistics GP, LLC, an affiliate of Delek US. Delek Logistics Partners owns and operates an integrated network of petroleum pipelines and terminals that support the movement, storage and throughput of crude oil and refined products.

The partnership’s core operations include crude oil gathering and processing systems, long-haul pipeline transportation and storage terminal services.

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Posted by Defense World Staff on Apr 21st, 2026

GraniteShares Advisors LLC trimmed its holdings in shares of Delek Logistics Partners, L.P. (NYSE:DKL – Free Report) by 18.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 59,694 shares of the oil and gas producer’s stock after selling 13,259 shares during the quarter. GraniteShares Advisors LLC owned 0.11% of Delek Logistics Partners worth $2,664,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. BNP Paribas Financial Markets bought a new stake in shares of Delek Logistics Partners during the second quarter worth $50,000. Jones Financial Companies Lllp lifted its position in shares of Delek Logistics Partners by 303.3% during the first quarter. Jones Financial Companies Lllp now owns 1,210 shares of the oil and gas producer’s stock worth $52,000 after purchasing an additional 910 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of Delek Logistics Partners by 92.8% during the third quarter. Farther Finance Advisors LLC now owns 2,285 shares of the oil and gas producer’s stock worth $104,000 after purchasing an additional 1,100 shares during the last quarter. Osaic Holdings Inc. lifted its position in shares of Delek Logistics Partners by 245.8% during the second quarter. Osaic Holdings Inc. now owns 2,687 shares of the oil and gas producer’s stock worth $115,000 after purchasing an additional 1,910 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Delek Logistics Partners by 1,186.5% during the second quarter. Bank of America Corp DE now owns 4,194 shares of the oil and gas producer’s stock worth $180,000 after purchasing an additional 3,868 shares during the last quarter. 11.75% of the stock is currently owned by institutional investors.

Delek Logistics Partners Stock Up 1.2% Shares of NYSE DKL opened at $50.18 on Tuesday. The company has a current ratio of 1.12, a quick ratio of 1.07 and a debt-to-equity ratio of 386.77. The stock has a market capitalization of $2.68 billion, a PE ratio of 15.25, a price-to-earnings-growth ratio of 0.54 and a beta of 0.54. The stock’s fifty day simple moving average is $52.23 and its two-hundred day simple moving average is $48.27. Delek Logistics Partners, L.P. has a 12-month low of $35.75 and a 12-month high of $55.89.

Delek Logistics Partners (NYSE:DKL – Get Free Report) last announced its earnings results on Friday, February 27th. The oil and gas producer reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.26 by ($0.38). The company had revenue of $255.77 million for the quarter, compared to the consensus estimate of $283.64 million. Delek Logistics Partners had a net margin of 17.41% and a return on equity of 461.30%. As a group, analysts expect that Delek Logistics Partners, L.P. will post 4.13 EPS for the current fiscal year.

Delek Logistics Partners Increases Dividend The business also recently announced a quarterly dividend, which was paid on Thursday, February 12th. Shareholders of record on Thursday, February 5th were given a dividend of $1.125 per share. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $1.12. The ex-dividend date of this dividend was Thursday, February 5th. This represents a $4.50 annualized dividend and a yield of 9.0%. Delek Logistics Partners’s payout ratio is 136.78%.

Analyst Upgrades and Downgrades A number of equities research analysts have weighed in on the company. Raymond James Financial reaffirmed an “outperform” rating and set a $55.00 target price on shares of Delek Logistics Partners in a research report on Thursday, March 5th. Truist Financial began coverage on Delek Logistics Partners in a research report on Tuesday, March 24th. They set a “hold” rating and a $57.00 target price for the company. Zacks Research downgraded Delek Logistics Partners from a “hold” rating to a “strong sell” rating in a report on Friday, January 23rd. Weiss Ratings upgraded Delek Logistics Partners from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 4th. Finally, Citigroup reiterated a “neutral” rating and set a $52.00 target price (up from $47.00) on shares of Delek Logistics Partners in a report on Friday, March 6th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $52.25.

Read Our Latest Research Report on Delek Logistics Partners

Delek Logistics Partners Company Profile (Free Report)

Delek Logistics Partners L.P. (NYSE: DKL) is a master limited partnership formed in 2011 through contributions of pipeline, terminal and crude oil gathering assets by its sponsor, Delek US Holdings, Inc Headquartered in Brentwood, Tennessee, the partnership is managed by Delek Logistics GP, LLC, an affiliate of Delek US. Delek Logistics Partners owns and operates an integrated network of petroleum pipelines and terminals that support the movement, storage and throughput of crude oil and refined products.

The partnership’s core operations include crude oil gathering and processing systems, long-haul pipeline transportation and storage terminal services.

Recommended Stories Five stocks we like better than Delek Logistics Partners Want to see what other hedge funds are holding DKL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Delek Logistics Partners, L.P. (NYSE:DKL – Free Report).

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BRENTWOOD, Tenn.--(BUSINESS WIRE)--Delek Logistics Partners, LP (NYSE: DKL) ("Delek Logistics") today announced its financial results for the first quarter 2026. “Delek Logistics continued its strong performance into 2026, supported by solid execution across our crude, gas, and water segments,” said Avigal Soreq, President of Delek Logistics' general partner. “During the first quarter, we saw continued benefits from the ramp-up of our Delaware crude and water gathering businesses and made furth.

The midstream energy sector has reinforced its reputation as a reliable source of income for investors. Key industry players have announced sequential increases to their latest payouts. These distribution hikes underscore the fundamental strength of energy infrastructure companies and their ability to generate attractive income for investors.

Key Takeaways: Targa Resources (TRGP) and Sunoco LP (SUN) led the quarter with significant payout increases of 25% and 6.25%, respectively. A broad range of midstream constituents, including Western Midstream (WES) and Kinder Morgan (KMI), grew their payouts. The growth in underlying dividends provides a fundamental tailwind for midstream ETFs like AMLP and ENFR. Targa & Sunoco Lead the Charge The primary highlights of the current cycle include significant payout increases from Targa Resources Corp (TRGP) and Sunoco LP (SUN). Targa Resources followed through on its previous guidance, boosting its quarterly dividend by 25% to $1.25 per share, up from the $1.00 paid in the prior quarter. Targa currently stands as a top 10 holding in the Alerian Energy Infrastructure ETF (ENFR), which provides exposure to the Alerian Midstream Energy Select Index (AMEI). AMEI was yielding 4.8% as of April 28 .

Sunoco LP also made headlines by announcing a 6.25% increase in its quarterly distribution to $0.9899 per unit. This move is particularly notable as it includes a one-time 5% step-up alongside a standard 1.25% quarterly increase. Sunoco’s capital allocation strategy includes a multi-year distribution growth rate of at least 5%. As the top holding in the Alerian MLP ETF (AMLP) in late April, Sunoco’s payout growth provides a substantial tailwind for the fund’s yield.. AMLP tracks the Alerian MLP Infrastructure Index (AMZI), which was yielding 7.1% as of April 28.

Broad-Based Increases Across the Midstream Space The momentum extended to several other major midstream operators. Western Midstream Partners (WES) increased its distribution by 2.2% to $0.93, while Kinder Morgan (KMI) raised its payout by 1.7% to $0.2975. Hess Midstream (HESM) continued its consistent growth trajectory with an increase of 2.0% to $0.7792 per share. Energy Transfer (ET) and Delek Logistics Partners (DKL), continued their pattern of smaller, consecutive quarterly hikes, raising payouts by less than 1% to $0.3375 and $1.13, respectively.

Investors can access these names through ENFR, which offers broader exposure to the entire midstream segment, or through AMLP, which includes SUN, ET, WES, HESM, and DKL. Approximately 90% of holdings by weighting for both ENFR and AMLP have increased their payouts within the last year. Importantly, there has not been a cut to a regular dividend for a name in AMLP or ENFR since July 2021.

Looking for midstream insights in your inbox? Subscribe here to keep a pulse on midstream investing through our weekly updates.

For more news, information, and analysis, visit the Energy Infrastructure Content Hub.

vettafi.com is owned by VettaFi LLC (“VettaFi”). VettaFi is the index provider for AMLP and ENFR for which it receives an index licensing fee. However, AMLP and ENFR are not issued, sponsored, endorsed, or sold by VettaFi, and VettaFi has no obligation or liability in connection with the issuance, administration, marketing, or trading of AMLP and ENFR.

Delek Logistics Partners, LP remains resilient and undervalued, with robust fundamentals and a well-diversified, fee-based revenue structure. DKL's Q1 2026 revenue rose 19% YoY to $297.5M, driven by strong midstream activity and increased third-party exposure. Despite cost pressures, DKL maintains ample liquidity, strategic debt management, and stable cash flows supporting distributions.

BRENTWOOD, Tenn.--(BUSINESS WIRE)--Delek Logistics Partners, LP (NYSE: DKL) (“Delek Logistics”) and Delek Logistics Finance Corp., a subsidiary of Delek Logistics (together with Delek Logistics, the “Offerors”), announced today that they have commenced a cash tender offer (the “Offer”) for any and all of their outstanding 7.125% Senior Notes due 2028 (the “Notes”), upon the terms and conditions set forth in the Offer to Purchase, dated as of May 4, 2026, and the related Letter of Transmittal an.

BRENTWOOD, Tenn--(BUSINESS WIRE)--Delek Logistics Partners, LP (NYSE: DKL) (“Delek Logistics”) and Delek Logistics Finance Corp., a subsidiary of Delek Logistics (together with Delek Logistics, the “Offerors”), announced today that they have received, as of 5:00 p.m., New York City time, on May 11, 2026 (the “Expiration Time”), tenders from holders of $270,721,000 in aggregate principal amount (excluding tenders through guaranteed delivery procedures), representing approximately 67.7%, of the O.